Bell completes takeover of MTS
Bell will maintain current MTS wireless price plans for at least 12 months from Friday, company pledges
More than 10 months after it was first announced, Bell's takeover of Manitoba Telecom Services is complete.
The $3.9-billion deal will see Bell pick up approximately 710,000 wireless, internet and internet protocol TV customers in Manitoba, representing an increase of five per cent in its total broadband service subscribers.
The newly launched Bell MTS will maintain current MTS wireless price plans for at least 12 months from Friday, Bell said in a release.
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Bell MTS also said plans to roll out a five-year, $1-billion broadband network expansion plan in Manitoba's urban areas, traffic corridors, rural locations and remote communities. The company also said Winnipeg will also serve as Bell's headquarters in Western Canada.
MTS CEO Jay Forbes is departing the new organization, with Bell MTS to be led by Dan McKeen.
McKeen was most recently Bell's vice-chair of Bell Aliant. He was appointed to that post in 2014 to lead the integration of Bell Aliant into Bell's national operations.
With the completion of the takeover, Bell said it will update its 2017 financial guidance targets to reflect the acquisition when it reports its first-quarter operating and financial results on April 26.